SHAREMARKET MUCH BRIGHTER IN VERY ACTIVE TRADING

Press, Volume CXIII, Issue 33141, 3 February 1973, Page 17

SHAREMARKET MUCH BRIGHTER IN VERY ACTIVE TRADING

The pace of trading increased dramatically, and prices were much brighter on New Zealand stock exchanges yesterday, as investors rushed into the market to take advantage of the lower prices. Leaders were strong, and the Australian sector reflected the greater strength shown overseas.

N.Z. Forest Products shares bounced back 2c, as did Alex Harvey, New Zealand Insurance, and Fletcher. South British Insurance recovered 15c on an active string of rising sales, and sold at 605 c in some markets. Marac and Broadlands again led the financiers; Marac seems to be going from strength to strength and gained another 3c to 263 c. while Broadlands jumped 4c to 116 c, in very active trading. Brother rights recovered 5c to 145 c. and Mount Cook

gained the same amount to sell at 255 c. C.F.M. added another Ic. and Brambles Burnett recovered 1c of recent losses to close at 138 c. Dominion Breweries is still

being actively traded and gained 1c to 139 c. while Bing Harris rose 3c on the news of the merger details, and ■ Associated Motels put on 4c on the good profit news. There has been quite a bit of demand for Claude Neon recently, and the shares yesterday made another 5c to reach 100 c. The falls were few with small losses. Victoria Laundry, which is seldom traded, lost 55c to 200 c. The company’s last report showed a sharp [fall in profit because of rising depreciation and costs.

RISES

FALLS

Rights market

New Zealand A Harvey (A) Price Var'n c. c. 415 2 Allied Farm New (W) 289 2 AB Cables (C) 330 5 Assoc Motels (W) 72 4 Atlas (A) 94 2 B Harris (W) .. 95 3 Bonds (W) 190 3 Brambles-B (W) 138 1 Brdld (A) 116 4 Brother rts (C) . 145 5 CPD (W) 157 9 CFM (C) 138 V C Neon (A) 100 5 Clyde (W) 150 n Dalgety (W) 200 1 Dorn Brew (A) . 139 1 E Lichtenstein (Wi 156 1 FTC (W) 198 3 Feltex rts (W) . 195 4 Fletcher (Al 220 2 1 W Dow (W) . 123 1 Marac (A) 263 3 Med Supp (W) . . 270 h M Snecs (W) .. 140 9 Mt Cook (A) .. 255 K NZ Forest (A) .. 362 9 — new (A) 354 9 NZ Ins (A) 355 2 NZ Refining (A) 425 5 Progressive (A) . 255 9 Prop Sec (W) . . 230 5 Sth Brit (A) 600 15 Tano (A) 215 5 UF.B (A) 1'3 1 Winstone (A) 185 4 Zin (W) 66 1 Min vest (A) 42 2 Overseas Comalco (C) .. 333 3 1 Bounty (A) 21 i

New Zealand Price Var'tr c. c. AB Cons (C) .. 54 1 Ak Gas (A) 14(1 2 — ctg (A) 82 1 Con Brick (A) 172 3 Cvclone (C) 89 1 H‘ Berrv (W) 235 ■ M Traders (A) 155 5 NZFF (A) 157 3 NZTS (A) 200 2 NMA-W.S. (W) 179 I Rex Con. (A) 365 5 Rothmans (A) I7R 2 SFM (C) 207 3 T Nelson" (W) 150 2 V Laundrv (W) 200 55 Waitaki (W) 145 5 Republic (A) 10 2 SC Min (A) 10 4 Overseas Ampol (W) "Ex dividend. 95

Last Buy Sell Sale Brother . 140 145 145 Deans nts ■— — — ■Feltex . 190 200 195 'Penn. Invest. . 25 — 25